IFRS english compact

The IFRS compact course enables you to apply the IFRS standards in the everyday working environment and to answer the typical questions in relation to IFRS accounting. All parts of the financial statements, including Balance Sheet, Comprehensive Income with P&L and OCI as well as Cash Flow and Notes are extensively covered. Of course, besides the common IFRS rules, the three days also include all the new standards like IFRS 9 (Financial Instruments), IFRS 15 (Revenues with Customers) and IFRS 16 (Lease Accounting). Finally, we cover various consolidation topics (IFRS 10, IFRS 11, IFRS 12) and the typical problems that occur when converting to IFRS accounting.

Background

The IFRS compact course accomplishes its superior quality by combining theoretical training with numerous case studies and practical examples presented in class by our exceptional teachers.

To make a great product even better, all participants can choose to sit for an ambitious, but also prestigious final exam and therefore set the benchmark when it comes to being capable of applying the IFRS standards: Participants need to have an overall score of 75% to pass. This way we can ensure knowledge transfer from books to business for participants and employers alike - to hold the IFRS compact certificate proves substantiated proficiency in IFRS.

Target Group

The IFRS english compact course aims at everyone who needs (or wants) to immerse oneself into IFRS accounting. It proves especially helpful to accountants and controllers, but also to management or IT professionals who need proficiency in accounting.

Subjects

• Basics
  • Reasons for International Accounting
  • Standards and sources – IFRS, US-GAAP, GAS
  • Accounting principles
  • Elements of the financial report
• Structure of the Balance Sheet
• Assets
  • Intangible assets, research and development
  • Property, plant and equipment
  • Leases
  • Impairment
• Inventories
  • Measurement at recognition
  • Measurement after recognition
  • Construction contracts
• Accounts Receivables
  • Allowances
  • Discounting
  • Receivables in a foreign currency
• Cash and Cash-equivalents
  • Classification
  • Valuation
• Securities and Derivates
  • Classification
  • Valuation
  • Recognition in the balance sheet, income statement and cash flow statement
• Provisions
  • Pensions
  • Other provisions
• Liabilities
  • Discounts
  • Interest in long-term liabilities
  • Liabilities in a foreign currency
• Statement of Changes in Equity
• Income Statement
  • Nature of expense method versus cost of sales method
  • Revenue recognition
  • Non-current assets held for sale and Discontinued operations
  • Share based payment
  • Extraordinary items
  • Earnings per share
• Taxes
  • Current and deferred taxes
  • Valuation and accounting of deferred taxes
  • Disclosures
• Segment Reporting
• Government Grants
• Cash Flow Statement
• Disclosures: Requirements and Examples
  • General structure
  • Segment reporting
  • Related party disclosures
  • Risk reporting
  • Other disclosures
• Consolidation
• Purchase Method
  • First-time consolidation and consolidation in the following periods
  • Purchase Price Allocation
• Equity Method
• Current Developments from the IASB